U.S. sovereign bonds continued to gain Friday, with markets around the world still unsettled by the Swiss central bank’s shock move on Thursday.
Yields on benchmark 10-year Treasury notes—used to calculate mortgage rates and other consumer loans—fell to 1.7191 percent on Friday, continuing a rally that has seen yields fall for five consecutive sessions.
This followed the announcement by the Swiss National Bank (SNB) that it would abandon its three-year-old cap on the Swiss franc’s value against the euro.
Swiss bonds also rose on Friday, pushing the 10-year government bond yield into negative for the first time, according to Reuters.
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